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Is Gst will be applicable on sale of land plot building ?
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gst on Land sale
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No Land is kept out of the purview of GST. Sale of Building after obtaining completion certificate will not attract GST.
means sir Gst will be also not applicable on Flat Sale ?????
Only if u sold it after obtaining certificate of completion.
means Mam if we will not get completion certificate then gst will be applicable . what rate mam ????
As per SCHEDULE III Para 5, of Central Goods and Services Tax Act ( CGST ) 2017, Sale of Open Land and Completed Building is neither treated as a Supply of GOODS nor a Supply of SERVICES.
Hence, no GST leviable on Sale of open plot and Completed Building.
However, as per SCHEDULE II Para 5 Clause (b), Sale of Under-Construction Building/Advance received at the time of construction of Building would amount to a Supply of SERVICE and hence GST will be levied thereon.
Hence, no GST leviable on Sale of open plot and Completed Building.
However, as per SCHEDULE II Para 5 Clause (b), Sale of Under-Construction Building/Advance received at the time of construction of Building would amount to a Supply of SERVICE and hence GST will be levied thereon.
It will be treated as Service. Hence GSt rate will be 18%
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